Pursuits
Fox Stays Course as Rattled News Unit Remains Profit Source
- Cable profit fell slightly on costs for sports, political news
- Film earnings slump on marketing costs for big summer pictures
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21st Century Fox Inc. executives vowed to keep the “unique and important voice” of No. 1-rated Fox News following the resignation of co-founder Roger Ailes last month, rejecting major changes at a network that remained a steady source of profit in the latest quarter.
James and Lachlan Murdoch, who took over leadership of 21st Century Fox from their father Rupert a year ago, told analysts on an earnings call Wednesday they acted swiftly to protect the highly profitable news channel and its employees when allegations against Ailes surfaced in the form of a harassment suit by a former anchor. The network, now led by Rupert Murdoch on an interim basis, is having its best year ever, they said.